Poland
Slim 3 reforms
Poland’s fiscal trajectory in 2022 was a busy one as it frequently altered its tax rates in an era of economic uncertainty. This, along with other fiscal initiatives, were condensed into a package what is known as the ‘SLIM’ package. Poland is currently in the midst of implementing ‘SLIM 3’.
The SLIM 3 package was finally approved in March 2023- but its implementation date has now been delayed to July 2023.
Slim 3, as expected, is extensive, covering the following issues:
- The lack of need for an invoice to settle VAT
- Further VAT exemptions
- Further transparency with respect to VAT bindings
- The option to transfer funds deposited in VAT accounts of VAT group members
- Reduction of certain VAT penalties